NICO Project update!- The new model identified some additional high-grade drill intercepts as well as mineralized material at the volcanic sedimentary rock interface that were not included in previous Mineral Resource estimates;
- The grade interpolation wireframe boundaries were also extended to surface where the deposit is known to outcrop and to depth where the gold zone had been too abruptly terminated;
- A new mine plan and schedule has been completed based on the new Mineral Resource model with a re-optimized open pit shell, an expansion of the gold-rich ores designated for underground mining near the existing decline ramp, which would be processed in years 2 to 4 of the planned mine life, and a stockpiling strategy to defer processing of low margin ores;
- The open pit mine fleet has been amended with smaller equipment to reduce dilution with waste rock and match the lower mining rate;
- The Company is reviewing equipment selection and installations to reduce capital costs;
- The Company’s planned new refinery site in Lamont County, Alberta; and,
- Producing a gypsum product at the Alberta Refinery as a by-product of the autoclave effluent.